REPLOID Group AG Secures Due Diligence Exclusivity for Chapul Acquisition

REPLOID Group AG has announced its intention to enter the US market by acquiring Chapul, LLC, a leading insect farming company in the United States. A non-binding term sheet grants REPLOID a 90-day exclusivity period to conduct due diligence on the acquisition, which is valued at approximately $12 million. This sum is expected to be paid through a combination of REPLOID shares, cash, and warrants.

The strategic move is seen as a significant step for REPLOID, positioning North America as a pivotal growth market. According to Philip Pauer, CEO and Founder of REPLOID, this acquisition aligns with the company’s growth strategy.

Chapul is known for its insect farms that convert organic waste into animal feed and fertilizer. The transaction is contingent on satisfactory due diligence and board approvals.